I've been getting a lot of people asking me about this guy on the radio named John Cummuta, who says you can "transform" your debt into wealth. Wow! That's quite a claim!
Cummuta, who is not a lawyer (but my sources revealed he was part of a failed multi level marketing scheme in the '90s where a top guy went to jail), pitches a system he claims will show you how to perform this miraculous transformation.
Of course, you have to pay about $40 dollars for his system, and then he trys to get you to upgrade into other products. He uses the first sale as a hook to "upsell" you into a higher priced item.
Anyway, can you actually turn debt into wealth? Sounds too good to be true, doesn't it?
Actually, what Mr. Cummuta teaches is nothing new. It's good information too, but you don't have to pay him or anyone else for it. In a nutshell, his system tells you to pay off the highest interest credit cards first after doing some careful budgeting. When you pay the first card off, take the money you were using to pay off the first card and start paying off the next highest card, and then the next, and so on, and so forth.
Again, you don't need to pay John Cummuta or anyone else for this information. The fact of the matter is you should follow basic, time tested, proven strategies to create wealth.
But often times budgeting is not enough. In today's day and age, where people are sinking fast, the Cummuta system is not the answer. You have to take immediate and extreme action if you have a house in foreclosure or you are up to your eyeballs in credit card debt.
That's it for now, will return here soon, God willing.
Michael Mack, "The Credit Man"